1832 Asset Management L.P. Makes New $2.96 Million Investment in MidCap Financial Investment Corporation $MFIC

1832 Asset Management L.P. bought a new position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 230,000 shares of the company’s stock, valued at approximately $2,958,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in MidCap Financial Investment by 3.5% during the 1st quarter. International Assets Investment Management LLC now owns 25,595 shares of the company’s stock worth $329,000 after buying an additional 876 shares during the period. CW Advisors LLC lifted its holdings in MidCap Financial Investment by 3.3% during the 1st quarter. CW Advisors LLC now owns 29,539 shares of the company’s stock worth $380,000 after buying an additional 945 shares during the period. Accel Wealth Management lifted its holdings in MidCap Financial Investment by 8.5% during the 1st quarter. Accel Wealth Management now owns 13,651 shares of the company’s stock worth $176,000 after buying an additional 1,074 shares during the period. Confluence Investment Management LLC lifted its holdings in MidCap Financial Investment by 1.2% during the 1st quarter. Confluence Investment Management LLC now owns 89,748 shares of the company’s stock worth $1,154,000 after buying an additional 1,104 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in MidCap Financial Investment by 4.0% during the 1st quarter. Wedbush Securities Inc. now owns 36,291 shares of the company’s stock worth $467,000 after buying an additional 1,410 shares during the period. 28.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MFIC. Keefe, Bruyette & Woods lowered MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price objective for the company. in a research report on Wednesday, July 23rd. Truist Financial lowered their price objective on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company lowered their price objective on MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, MidCap Financial Investment presently has an average rating of “Hold” and an average target price of $13.50.

MidCap Financial Investment Stock Performance

Shares of MidCap Financial Investment stock opened at $13.13 on Monday. MidCap Financial Investment Corporation has a one year low of $10.18 and a one year high of $14.74. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 12.16 and a beta of 0.99. The business has a 50-day simple moving average of $12.77 and a 200 day simple moving average of $12.76. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.53 and a quick ratio of 3.53.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Monday, August 11th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%.The business had revenue of $81.25 million during the quarter, compared to analyst estimates of $81.70 million. On average, research analysts anticipate that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment’s payout ratio is presently 140.74%.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.